Global Petroleum Share Discussion Threads

[p1nkfish] 21/10/2014 18:46

Financial evil imho.

[thaaarg] 21/10/2014 15:32

In a nutshell the reason why this trades at a 50% discount to net cash in bank -

The BoD are utterly useless.

Cash should last long enough to give them 5 years of sitting around doing nothing.

Shameless.

[cwa1] 21/10/2014 14:56

Incredible stuff

[bam bam rubble] 21/10/2014 14:05

"The CEO stock options do not provide him with a satisfactory incentive therefore
will be replaced with new ones over 3% of the existing capital and repriced (from
the previous level of 14p upwards) to 1.25 times the five-day average. These will
have no performance criteria attached therefore is not in line with best practice.

Global also intends to grant 1,000,000 new stock options to the non-exec Chairman
(0.5% of the existing capital). If shareholders do not grant this the Company can
simply choose to remunerate the non-exec Chairman with additional amounts of cash."

[p1nkfish] 21/10/2014 13:35

words fail me.

[ryan83] 17/10/2014 10:26

because that would involve the BOD actually lifting a finger

[ohisay] 17/10/2014 10:23

Why doesn't GBP now buy some shares in oil co's with current distressed / low valuations.
It used to be called drilling on wall street.
Would actually confirm some respectability on their inaction over the last few years.

[bam bam rubble] 01/10/2014 16:00

The accounts showed Global's spending rate this year is about £200,000 a month.
Cash on a six-months-ahead view will be some £8.25m (vs £7m current market cap)
which gives a fair value today (before dud management discount) of 3.95p/share.

[ohisay] 01/10/2014 11:10

They're ozzie dollars OR so cash nearer 4.8pps.

[oilretire] 30/9/2014 07:57

Still sitting on US$0.088 or 5.4pps cash by my calcs?

[oilretire] 30/9/2014 07:51

Taking a big reality check on Namibia, and changing tact - at last!

we have re-assessed our strategy of looking for frontier exploration opportunities, and have concluded the Company will now balance its existing higher risk/reward portfolio in Namibia and prioritise exploration in proven hydrocarbon provinces, especially onshore, and investment in discovered contingent resources. Geographically the focus will continue to be primarily Africa and the Mediterranean. We will also carefully consider appropriate corporate opportunities, which may occur periodically.

[p1nkfish] 24/9/2014 21:14

He's no mug. Lifestyle company is a perfect description.

[sawney] 22/9/2014 07:57

Interestingly...

From Comet5d on the TRAP board.......

hxxp://www.thesundaytimes.co.uk/sto/public/share/uuid/14bcbbaa-3f62-11e4-918b-26c30f0ae732

.....Shareholders have turned against the small oil companies that seem to be run for the benefit of executives
“There is a casual disregard for shareholders in the oil industry,” said the manager of a large pension fund. “We still have an appetite for good stories, but there are very few. Too many of these things start out as good ideas but end up turning into lifestyle companies......̶1;

[kickoff3pm] 12/9/2014 18:19

Perhaps they are hanging on to buy shares in Scotland :-)

[p1nkfish] 12/9/2014 18:06

GBP is discounted vs cash to allow for the quality of the management, or rather lack thereof.

Will gladly eat my words if they can pull something out of the hat.

[nash81] 12/9/2014 15:50

GBP still trading at below cash level

another one is LEN. share price 4p and cash level 6p.

gas testing result in october, could rerate that.

[p1nkfish] 04/9/2014 12:13

Return money and call it a day - but no. That would be the end of the wages wagon they are all on.

[kickoff3pm] 04/9/2014 12:04

"We continue to retain a strong cash position, and we will be highly selective in the investment of these funds."

Yep they'll drip it slowly into a select few pockets by the looks of the last five years. Nice work if you can get it.

[ghostofahangman] 04/9/2014 11:14

Yes as dry as a nuns crutch

[rayrac] 04/9/2014 08:23

So, they can't find a partner. It's a shame and probably the reason the Namibian gov have let them extend that phase of the licence.

Namibia seems to be as dry offshore, as it is onshore!

[p1nkfish] 04/9/2014 07:24

 Global's CEO, Peter Hill, commented: "We would like to thank the Ministry of Mines and Energy in Namibia for their continued support and look forward to progressing the technical evaluation of our acreage.  We remain optimistic about the potential of our Namibian blocks, given the technical differentiawtion between our prospects and the target drilled at Welwitschia-1A. ;Whilst we continue to seek a partner with a view to funding the future work programme on the Licence, commencing with 3D seismic, we are mindful of the wider context which is that disappointing drilling results both in Namibia and in Atlantic margin frontier plays generally have affected industry and market sentiment.  This sentiment has undoubtedly had a bearing on our farm-out process in Namibia, and we intend to take it into consideration in assessing the risk profile of potential new opportunities to complement our existing assets.  We continue to retain a strong cash position, and we will be highly selective in the investment of these funds."

[p1nkfish] 28/8/2014 17:20

Has all the hallmarks of management just playing games.
Feeding Egos, not shareholders.
I can't see much sense in it now.
Would have some respect for them if they decided to wind up.

[412069] 28/8/2014 11:59

The St.
Surely if granted its a positive i would of thought, been a year
has it!

[the stigologist] 28/8/2014 11:07

its best to see it as worthless as these guys haven't any intention
of doing anything